I'm still betting on $449 and $399. $349 would be a godsend, and would make the Wii U's life a hell of a lot hard, but I don't think they'd go that low. It would be amazing if they did, it will be just like what Sony did with the Vita's price announcement, except. They have a far better chance of capturing the console market again than the handheld market. But I think they're gonna be more concerned about Xbox 3's pricing than Wii U's current price.
Considering you need an overpriced memory card to play games, that wasn't far off. At launch, a wi-fi unit and an 8GB card was $295
The proprietary cards are bullshit, and the lack of on board storage is also bullshit. I'd say it was more of a "catch" than another $599 debacle, hyperbole much? But with that said, people predicted some outrageous prices for Vita and were way off. The hidden cost is irrelevant to that fact, that ,and usually hidden cost and consoles go hand in hand.
Believe in a standard $399 SKU, and a deluxe/premium $449 SKU, GAF, believe and it will happen.